AssetMark Enhances Advisor Offerings with Expanded Cash Solutions Suite

Core Insights - AssetMark has expanded its Cash Solutions suite by adding FDIC-insured certificates of deposit (CD Plus) and purchased Money Market Funds (MMFs), targeting an estimated $8 billion share of wallet opportunity in the wealth client cash holding space [1][2] Group 1: Product Offerings - The newly launched CD Plus offers FDIC insurance on multi-million-dollar cash balances, competitive rates, flexible terms, and convenient account management, allowing clients to save smarter [2][3] - AssetMark's Cash Solutions suite includes a range of cash and short-term liquidity products, enabling advisors to create customized solutions that cater to various return, risk, and liquidity profiles [2][3] Group 2: Market Context - Elevated interest rates present a unique opportunity for advisors to help clients improve their financial outcomes by leveraging cash management strategies [2][3] - The integration of cash management into wealth planning discussions can enhance the strategic value of advisors and strengthen client relationships [2][3] Group 3: Company Overview - AssetMark operates a wealth management platform that supports over 9,200 financial advisors and more than 261,000 investor households, with platform assets totaling $119.4 billion as of June 30, 2024 [4]